Ashim kr Ray (social service) (1695 Points)
10 March 2017Sir, A husband is an govt employee ,deposit RD and FD in the name of his housewife(no sources of income).Now husband is deciding to buy land in the name of his wife. Whether any problem occur from the side of Income tax?As husband is submitting the return regularly.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 10 March 2017
There is better way to represent it. Let him transfer amount to his wife's account as loan or gift, and let wife purchase it in her name.
Ashim kr Ray
(social service)
(1695 Points)
Replied 10 March 2017
Sir,
If husband transer the amount in wife account and shows as loan or gift. Then whether it has to be shown in the ITR , as the husband is salary person.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 10 March 2017
No ned to show in husband's ITR
CAclubindia
